Energiser Investments Share Discussion Threads

[grupo] 13/11/2016 20:32

PARIS--Engie SA (ENGI.FR) lowered its outlook for profit this year after weak natural gas and electricity prices in addition to slack weather-related demand in France, the power utility's main market, led to an 11% drop in nine-month revenue.

Engie, whose activities include nuclear-power plants in Belgium and hydroelectric dams in Brazil, said net recurring income--a measure that strips out restructuring costs and other impairments--will be close to the lower end of its previously forecast range of 2.4 billion euros ($2.62 billion) to EUR2.7 billion.

The energy company said earnings before interest, taxes, depreciation and amortization in the nine months to end-September fell 5.4% to EUR7.7 billion on the drop in revenue to EUR47.5 billion.

Like other power utilities in Europe such as Germany's EON SE and RWE AG, Engie has struggled with sluggish demand for energy across Western Europe amid a mild economic recovery despite ultra-low interest rates.

Electricity prices have also been under sustained pressure from a glut of electricity supply helped by government-subsidized growth in renewable energy that has made traditional power plants less profitable. Engie has had close down conventional power plants and write down assets worth billions of dollars over recent years.

Engie, led by Chief Executive Isabelle Kocher, has said it plans to reduce its exposure to energy prices by focusing on services and regulated businesses in which long-term contracts ensure stable profitability. As part of this plan, the company embarked on a multibillion-euro program of asset sales.

Engie said that so far it has sold EUR6.1 billion worth of assets, the equivalent of 41% of the target for the end of 2018.



Write to Inti Landauro at [e-mail]



(END) Dow Jones Newswires

November 10, 2016 03:03 ET (08:03 GMT)

[grupo] 13/11/2016 18:45

TRANSLATION

Published on 11/11/2016 at 13h49

(Boursier.com) - The action Engie that tumbled yesterday on its lowest levels, camping on my 11.80 euros this Friday, stable ... The group published results over 9 months without flavor and tightened in the Bottom of the range its forecasts 2016. Oddo is nevertheless to buy on the record aiming a course of 17,50 euros, talking about online publication.
"The 2016 objectives are confirmed, but the risks on the nuclear supply increase the uncertainty of the short term," comments the broker who continues: "The recent rebound in market prices and the capacity mechanism in France benefit Engie but in a A small measure ... Engie's news flow is not a satisfactory catalyser in the short term, and the group has suffered a significant discount due to the risk of tightening monetary policy, "concludes Oddo.
Raymond James, meanwhile, remains buying strong on the record, but adjusting his target price down to 13.90 euros ...

Source of Concern

Crédit Suisse slightly reduced its earnings per share projections on the record for 2016. However, its expectations for the following years remained unchanged ... For the consulting firm, the main source of uncertainty is Knowing when the current reorganization will begin to have an impact on turnover. From this point of view, he continues to believe that the growth of results will remain weak until the end of the decade, which explains his "neutral" recommendation, despite a target price of € 14.40 and a valuation that " It considers relatively low compared to that of its comparables on the basis of most commonly used metrics.
A valuation that remains justified by the lack of visibility on the results of the reorganization. Having set a dividend level of 0.70 euro for both 2017 and 2018, however, provides strong support for the title ...

In depth

"Engie is in the process of transforming its business in depth, so we believe that the 2016 metrics do not necessarily reflect the growth potential for long-term investors," said Bryan Garnier, who recommends to his clients ... to buy the title by targeting 17 euros.

Berenberg on the other hand has degraded the value of "buying" to "conserve", while reducing its target price from 16 to 13.50 euros. The broker does not anticipate any significant growth in EPS until 2019 despite a significant program of cost savings. The decline in share price shows that the market is not currently willing to pay for this distant growth in time. In the end, the broker judges the title properly valued ...

Contrast

The nine-month results of the group came out very contrasted, in a difficult context that weighs on revenues. The group saw its turnover decrease by -10.3% in organic data to 47.5 billion euros, while its Ebitda contracted by -2% to 7.7 billion. On the other hand, current operating profit rose by 6.6% on an organic basis to 4.4 billion euros. Cash flow from operations contracted by -8.3% to 6.8 billion euros. Finally, net debt declined by 1.9 billion euros to reach 25.8 billion euros at the end of September. Engie already realized 6.1 billionth of disposals, ie 41% of the target set for the end of 2018.
The transformation plan began to produce its first effects, with a contribution estimated at 400 ME on EBITDA. The decline in activity is above all due to the drop in the price of conveniences and temperatures in France less cold than the same period of the previous year.

Fork stockings

The energy company aims at a recurring net profit at the bottom of the previously announced range, 2.4 to 2.7 MdsE, on the basis of an indicative EBITDA range of 10.8 to 11.4 MdsE (also awaited Down forecast). The current consensus is positioned at 10.85 billionth of EBITDA, already at the bottom of the range, and recurring profit at 2.5 MdsE (14 analysts, Bloomberg). The net debt to EBITDA ratio will be less than or equal to 2.5 times at the end of the year. A cash dividend of € 1 per share will be proposed. Finally, the group is determined to keep its rating in category "A" ...

[grupo guitarlumber] 10/11/2016 12:03

PARIS--Engie SA (ENGI.FR) lowered its outlook for profit this year after weak natural gas and electricity prices in addition to slack weather-related demand in France, the power utility's main market, led to an 11% drop in nine-month revenue.

Engie, whose activities include nuclear-power plants in Belgium and hydroelectric dams in Brazil, said net recurring income--a measure that strips out restructuring costs and other impairments--will be close to the lower end of its previously forecast range of 2.4 billion euros ($2.62 billion) to EUR2.7 billion.

The energy company said earnings before interest, taxes, depreciation and amortization in the nine months to end-September fell 5.4% to EUR7.7 billion on the drop in revenue to EUR47.5 billion.

Like other power utilities in Europe such as Germany's EON SE and RWE AG, Engie has struggled with sluggish demand for energy across Western Europe amid a mild economic recovery despite ultra-low interest rates.

Electricity prices have also been under sustained pressure from a glut of electricity supply helped by government-subsidized growth in renewable energy that has made traditional power plants less profitable. Engie has had close down conventional power plants and write down assets worth billions of dollars over recent years.

Engie, led by Chief Executive Isabelle Kocher, has said it plans to reduce its exposure to energy prices by focusing on services and regulated businesses in which long-term contracts ensure stable profitability. As part of this plan, the company embarked on a multibillion-euro program of asset sales.

Engie said that so far it has sold EUR6.1 billion worth of assets, the equivalent of 41% of the target for the end of 2018.



Write to Inti Landauro at [e-mail]



(END) Dow Jones Newswires

November 10, 2016 03:03 ET (08:03 GMT)

[maywillow] 09/11/2016 08:27

translation

Published on 09/11/2016 at 9:12

(Boursier.com) - In a course clearly bear market opening following the election of Donald Trump, Engie stumbles from 1.7% to 12.8 euros. Reportedly, Berenberg downgraded the value of "buy" to "hold" while lowering its price target from 16 to 13,50 euros. The broker does not anticipate any significant growth in EPS before 2019 despite a significant program cost savings. The recent decline in the share price shows that the market is currently not willing to pay for this growth removed in time. Finally, the broker considers the title correctly valued.

[ariane] 04/11/2016 21:46

Friday, November 4, 2016

Oil prices settled at a six-week low on Thursday following several consecutive days of large price declines. The major catalysts this week were doubts over an OPEC deal and EIA data showing a record build up in crude oil stocks. The EIA said Wednesday that U.S. oil inventories rose by 14.4 million barrels last week, the largest gain in a single week since data collection began in the early 1980s. WTI plunged below $45 per barrel on the news and the five consecutive days of losses was the longest streak since June.

The data could be misleading, however. The huge buildup in inventories came largely because weekly imports spiked. Imports rose by about 2 million barrels per day last week after several weeks of hovering at below-average levels. The import spike was partially affected by bad weather, including a hurricane, and could be an anomaly. If that is the case, crude stocks probably won’t gain at similar rates in the weeks ahead.

Still, sentiment is negative after such a down week. "The persistent market dynamic of softer demand and stronger supply will become a more dominant driver of prices as the impact of OPEC's verbal interventions begins to fade and expectations for coordinated cuts are readjusted," BMI Research said in a note to clients.

OPEC deal probable, Citi says. Saudi Arabia and Russia are “hungry for an agreement,” Ed Morse, the head of commodity research at Citigroup, said this week. That means that OPEC and several non-OPEC countries will probably reach a deal at the end of the month to cut oil production. "We’re expecting the parties that need to do something to boost prices to be serious about deciding something," Morse said. For its part, OPEC said it was “deeply optimistic” this week that they would reach a deal.

Oil prices to stay below $60 per barrel in 2017. A Wall Street Journal survey of 14 investment banks predicts that oil prices will not rise above $60 per barrel for another year. The average forecast of the 14 respondents puts Brent oil prices at $56 per barrel in 2017 and WTI at $54. Those figures are down $1 per barrel from last month’s survey, and stand in stark contrast to forecasts from a year ago, which predicted oil to move above $70 per barrel this year.

Colonial Pipeline still closed. The largest pipeline ferrying gasoline around the U.S. has been closed since Monday due to an explosion. The Colonial Pipeline carries gasoline from the Gulf Cost to the Southeast and Northeast U.S., and its closure has led to a spike in gasoline futures. On Tuesday, gasoline futures spiked as much as 15 percent, the largest single day increase in nearly a decade, according to the WSJ. The pipeline’s operator had hoped to have it back up and running by this weekend but a small fire continued to burn as late as Thursday. Nearly two months ago, the pipeline was shut after a leak, a short outage that also led to higher gasoline prices in regional markets. The WSJ reports that more than 60 percent of U.S. fuel pipelines are more than 46 years old, posing questions around the integrity of some of the nation’s largest oil and gas conduits.

Attacks in Nigeria continue. Sabotage by the Niger Delta Avengers and other militant groups against oil infrastructure continue to pick up pace. The latest attack hit a flow station along Royal Dutch Shell’s (NYSE: RDS.A) Trans Forcados pipeline. In a statement the Niger Delta Avengers said that its attack was to warn oil companies that “there should be no repairs [to pipelines] pending negotiation/dialogue with the people of the Niger Delta.” U.S. intelligence officials told CNBC that the worrying thing for Nigeria is that Niger Delta militants could splinter, leading to ongoing attacks under no coherent umbrella, making them more difficult to control. Nigeria’s oil production recently rose to 1.9 million barrels per day but the attacks threaten to derail more gains.

North Sea oil production set to jump. Oil shipments from the aging North Sea could rise by 360,000 barrels per day between September and December of this year, taking output for the region up to 2.16 million barrels per day. The buildup of tankers in the North Sea is starting to clear, adding to the global surplus of supply and complicating the effects of a potential OPEC agreement on oil prices.

Solar stocks plunge on glut of panels. First Solar (NASDAQ: FSLR) saw its share price fall by 18 percent on Thursday, taking it multiyear lows, after it missed revenues and pointed to a global glut in solar panels. Prices for panels have declined 30 percent in large part due to a slowdown in demand from China, First Solar said.

U.S. presidential election poses market uncertainty. The S&P 500 has suffered a string of losses lately, which many attribute to jitters over uncertainty regarding the outcome of next week’s election. The markets seem to prefer Hillary Clinton over the uncertainty of Donald Trump, and indices have sunk as the campaign has tightened in recent days.

In our Numbers Report, we take a look at some of the most important metrics and indicators in the world of energy from the past week. Find out more by clicking here.

Thanks for reading and we’ll see you next week.

Best Regards,

Evan Kelly
Editor, Oilprice.com

P.S. – Natural gas is approaching a situation in which all factors point to a rebound, but oil trader Martin Tillier points at the markets’ tendency to overshoot. Martin warns that buyers should hold off a bit longer before scooping up natural gas futures. Find out where the real reversal for NatGas is taking place by claiming your risk-free 30 day trial on Oil and Energy Insider

[encarter] 04/11/2016 11:46

I already some YOLO. Thankz again C. Keep em comin.

[encarter] 03/11/2016 22:08

Ta C will take a look.

[cliley454] 03/11/2016 13:13

I agree. I had a property investment stock a few years back, who's name escapes me now, which I bought for 1.75p and sold a year later for over 40p. That would be possible here with the right investments.

Off topic encarter I'm hearing good things about YOLO, please take a look but as always dyor.

[the_alchemist] 03/11/2016 09:32

encarter yes indeed but even better if we all hold very tight and do not sell on a doubling of SP

[maywillow] 03/11/2016 09:12

CANBERRA, Australia--Lawmakers have sought to douse concerns of power disruptions after France's Engie S.A. (ENGI.FR) said it would close the country's most polluting coal plant next year, adding to a simmering furor about energy security and renewable generation in the electricity net.

Engie said it would close the ageing Hazelwood power station--one of the country's oldest plants using brown coal--in March, while it would also examine sale of two other generators, including the nearby Loy Yang B plant in the Latrobe valley of southeast Victoria state.

"It has been a wonderful contributor to the National Electricity Market but we have now reached the point where it is no longer economic to operate," Engie's Australian Chief Executive Alex Keisser said.

The closure plan comes just weeks after a storm knocked out power to the entire state of South Australia, prompting the national government to question the growing role of solar and wind energy plants in the country's electricity grid. Prime Minister Malcolm Turnbull accused states governed by center-left Labor opponents of putting energy security at risk due to an ideological opposition to coal in the wake of global climate talks in Paris.

Some economists have warned that the exit of a major brown coal-fired generator could trigger a supply shock to Victoria state, home to almost 6 million people and with an economy bigger than Singapore, as well as impact the country's National Electricity Market, or NEM.

The Hazelwood Power Station, while old and the country's most emissions-intensive generator, was accounted for 20% of Victorian power production and 5.4% of output across the entire NEM, think-tank Frontier Economics said.

Still, Victoria Premier Daniel Andrews said there was an energy oversupply across the country, with enough power in the national network to deal with Hazelwood's closure without triggering a big rise in prices.

"There is not one coal-fired power station operating at 100% anywhere across our nation," Mr. Andrews said following Engie's announcement.

Engie said keeping open the plant, which was first commissioned in the late 1960s, would have required fresh investment of "many hundreds of millions of dollars to ensure viable and continued safe operation."

Environment groups hailed the closure as a step toward cutting Australia's greenhouse gas emissions, which are among the world's highest in per capita terms due to reliance on coal for two-thirds of the country's electricity generation. The plant has been blamed for high levels of atmospheric pollution and health problems in the Latrobe Valley.

Fossil fuels accounted for 88% of electricity generation in the 2014-15 financial year, according to the country's statistics office, down from 93% in 2008-9. At the same time renewable generation has risen from under 10% to 12% over the past three years, with some state setting targets for as much as 50% of electricity generation to come from wind and solar.

"Hazelwood's closure should be a wake-up call," said Environment Victoria chief executive Mark Wakeham. "Australia needs to take control of its energy future by developing a plan for the orderly closure of our outdated and polluting power stations … as we make the transition to a renewable energy powered economy."



-Write to Rob Taylor at [e-mail]



(END) Dow Jones Newswires

November 03, 2016 00:49 ET (04:49 GMT)

[encarter] 02/11/2016 19:57

I estamate just £20k of stock left. The mms will have to keep walking the share price up if they want to find sellers.

[waldron] 28/10/2016 19:28

France's Engie signs agreement on Ukrainian natural gas transmission, storage

London (Platts)--28 Oct 2016 1151 am EDT/1551 GMT

* To reverse transport, storage capacity in Ukraine
* Capacity reservation starting from 'this winter'
* Engie supplied 3.5 Bcm to Ukraine in 2015

France's Engie said Friday it has signed an agreement with Ukraine's TSO UkrTransGaz on gas transmission and storage, making it the first European energy player to be actively involved in Ukraine's wholesale gas market.

The agreement takes the form of a framework contract allowing Engie to reserve transport and gas storage capacities in Ukraine, starting this winter, it said in a statement.

Engie also said it had created a subsidiary in Ukraine.

[encarter] 27/10/2016 12:42

With the new website it looks like they are working on a few deals so a steady flow of good news combined with very little stock should take us near to the 10p mark Imho.

[the_alchemist] 27/10/2016 10:43

Let's see what happens to the share price in 6 months time .

[the_alchemist] 26/10/2016 10:28

look at new website , it looks much better
recent Director buy and assignment of options
I agree once monies for Kingston project on the books NAV should significantly improve and share price increase ? 5-6p against Cliley view of 10 p which i hope is correct and i am wrong.
Looks like the new Director also has some good ideas about increasing profitabilty
I am now feeling more positive about my investment here . Expect some large % changes in shareprice and ENGI showing on leader boards (and hopefully not to much on declining stock boards , if we hold on to out shares through large percentage rises , and do not sell prematurely!!!)
regards
The_alchemist

[encarter] 26/10/2016 10:16

Sp creaping up but hard to get any stock

[encarter] 30/9/2016 09:25

Ta C will take a look

[cliley454] 30/9/2016 08:40

ENGI. Market cap under £1m.

Looking at the chart one would think that ENGI were about to go bust, but in this case the chart lags way behind the reality. After a series of bad investments, late in 2008, partly due to luck and to the banking crisis they managed to take over a housing developer (GPHL) who had run into financial difficulties and needed cash to complete a building project. This has resulted in ENGI owning a total of 20 houses in Wellingborough, each with a value of £150,000 and climbing. These houses are fully let giving a regular income however the intention has always been to sell them and invest the funds in other projects in the same sector. Reading between the lines of yesterdays bullish results it looks like they plan to do this within the next 12 months, but with house prices predicted to rise by 50% over the next 5 years they have no need to rush.

In 2013 they announced that they would help fund another building project in Surrey in return for a 50% share in profits with a guaranteed minimum of £785,000. This project is now complete and with just 1 property left to sell they are about to receive their £785,000 which will increase NAV by more than 3 times and should instigate a re-rating of the share price to around 6p imho. As from this week they have a brand new website and with those bullish results, look set for a steady stream of positive news flow.

Another plus would be the appointment in June this year of Dominic White who holds a wealth of experience in property development and has the contacts needed to find value in that market.

Investors might want to take a look at major shareholders who own a staggering 93.3% of the company.


With such a thin market, a re-rating on the cards, a cash injection expected shortly and flow of good news from new projects 10p a share is easily achievable imho. dyor

[encarter] 30/9/2016 08:34

Whats the word C?

[ariane] 19/9/2016 16:56

EU Probes Luxembourg's Tax Treatment of Engie--Update
19/09/2016 4:36pm
Dow Jones News

Engie (EU:ENGI)
Intraday Stock Chart

Today : Monday 19 September 2016
Click Here for more Engie Charts.

By Laurence Norman and Inti Landauro

BRUSSELS--The European Commission said Monday it had opened a probe into whether Luxembourg's tax treatment of French energy giant Engie SA breached European Union state-aid laws, the latest in a series of high-profile investigations looking at past tax deals.

The move sets up a potential clash between the EU's executive arm and one of the largest and most powerful French companies in which the French government has a 32.8% stake.

It comes after U.S. accusations that the EU was targeting mainly American companies in its tax probes. Last month, the commission ordered Ireland to collect some EUR13 billion in unpaid taxes from Apple Inc. ($14.5 billion).

Monday's announcement also came as the EU's competition commissioner Margrethe Vestager started a three-day tour of the U.S., her first trip there since the Aug. 31 Apple ruling.

The commission, the EU's executive arm, said it had concerns that several tax rulings made in September 2008 by the Luxembourg authorities may have given GDF Suez group, now called Engie, an unfair advantage over other companies.

The commission said that several tax rulings between different Engie units appeared to allow the company to reduce its tax bills on profits arising in Luxembourg.

The commission said that several tax rulings granted by Luxembourg to Engie appeared to allow the company to reduce its tax bills on profits arising in the country.

The commission is looking at two zero-interest loans that could be converted into equity which were granted by two Engie units to two others in 2009 and 2011. In those transactions, one side deducted the expenses as interest rates, while the other side deducted the income as dividend.

As a result, the commission said, the company may have paid no tax on a "significant proportion of the profits" generated by the transactions.

In a statement, Ms. Vestager said the rulings "seem to contradict national taxation rules and allow GDF Suez to pay less tax than other companies."

The commission didn't say how much money might be at stake in the case. A spokesman, Ricardo Cardoso, said this would only start to become clear when they receive more information from the company and Luxembourg authorities.

"Engie will fully cooperate with the commission on the investigation," a spokeswoman said. She said the company's units in Luxembourg are not shell companies. Roughly 300 people work for Engie in the country, mainly in energy services. The company has an energy trading desk in the city of Luxembourg.

The spokeswoman declined to provide the amount of taxes Engie has paid in Luxembourg since 2008 and how much profit it has made there.

Finance Minister Michel Sapin hasn't made any specific comment on the Engie case yet, but he has repeatedly said companies, whether private or state-owned, should pay taxes in the country where they make profits, an official at the Ministry said Monday.

In a statement following the announcement of the probe, Luxembourg's finance ministry said the government "considers that no special tax treatment or selective advantage has been awarded to any Engie group company in Luxembourg."

A commission spokesman, Ricardo Cardoso, denied that the announcement of the probe into Engie, in which the French government still holds a 33% stake, was timed to coincide with Ms. Vestager's trip to the U.S.

"We will always apply state aid rules to all companies and this independently of whether they are EU-based or U.S.-based companies or based anywhere else for that matter," he said.

The in-depth investigation into Engie is the first to come out of the information gathered from an EU-wide inquiry into tax rulings in 2014. So far, the commission has received information on some 1,000 tax rulings in 23 EU countries.

That exercise was launched after a huge document leak showed how Luxembourg, whose longtime former prime minister is the current commission President Jean-Claude Juncker, helped international companies funnel profits into the country and pay minimal taxes.

Mr. Juncker has said he wasn't involved in the detail of the tax decisions.

Gabriele Steinhauser contributed to this article.

Write to Laurence Norman at [e-mail] and Inti Landauro at [e-mail]



(END) Dow Jones Newswires

September 19, 2016 11:21 ET (15:21 GMT)